Dong Nai Corrugated Roofing and Construction Material (Donac) paid VND9.42 billion (US$588,000) to acquire 40 percent of the shares of Phuong Thao-Phuoc Khanh Construction Material and Investment Co (PPCIC).

Donac is completing procedures to merge with PPCIC and officially holds 100 percent of PPCIC's shares.

Involved in trading and producing cement, corrugated roofing and building materials, in 2008 Donac plans to earn a total revenue of VND220 billion ($13.75 million) with a profit of VND25 billion ($1.56 million) and dividend payment ratio of at least 12 percent.

Source:Vietnam News

Tan Thuan Industrial Promotion Company (IPT) has got the nod from the HCMC government to hold talks with Dubai World of the United Arab Emirates to develop a residential and port project in Hiep Phuoc in Nha Be District. The area covers 2,000 hectares, of which 1,000 hectares will be for port development and the rest for urban development, Thoi bao Kinh te Viet Nam reports.

Source: Saigon Times